Which of the Following Statements About Markets Is Most Accurate

question 87

Multiple Choice

Which of the following statements about markets is most accurate?

• A)Markets are usually a good way to organize economic activity.
• B)Markets are usually inferior to central planning as a way to organize economic activity.
• C)Markets fail and are therefore not an acceptable way to organize economic activity.
• D)Markets are a good way to organize economic activity in developed nations,but not in less developed nations.

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Definitions:

Virtuous Person

An individual who embodies and practices moral virtues consistently, demonstrating qualities such as honesty, courage, compassion, and integrity.

Sense of Humor

The trait of appreciating (and being able to express) the humorous, which can make stressful situations more manageable and life more enjoyable.

Morality Origins

The investigation or discussion regarding where moral standards or values come from.

God's Laws

The moral and ethical codes believed to be ordained by a divine entity, often found within religious texts or traditions.